Truist Financial Issues Pessimistic Forecast for Malibu Boats (NASDAQ:MBUU) Stock Price

Malibu Boats (NASDAQ:MBUU) had its price target lowered by Truist Financial from $38.00 to $28.00 in a report released on Monday, MarketBeat reports. The brokerage currently has a hold rating on the stock.

A number of other analysts also recently commented on MBUU. Baird R W downgraded Malibu Boats from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 4th. StockNews.com downgraded shares of Malibu Boats from a “hold” rating to a “sell” rating in a research note on Monday, April 7th. KeyCorp lowered shares of Malibu Boats from an “overweight” rating to a “sector weight” rating in a report on Thursday, March 20th. Robert W. Baird reaffirmed a “neutral” rating and set a $32.00 price objective (down from $50.00) on shares of Malibu Boats in a report on Friday, April 4th. Finally, B. Riley raised shares of Malibu Boats to a “hold” rating in a research note on Wednesday, February 12th. Seven research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Malibu Boats has an average rating of “Hold” and an average target price of $38.17.

Malibu Boats Trading Down 2.0 %

Shares of MBUU stock opened at $26.11 on Monday. The company has a current ratio of 1.52, a quick ratio of 0.45 and a debt-to-equity ratio of 0.04. Malibu Boats has a 1 year low of $24.43 and a 1 year high of $47.82. The firm’s fifty day simple moving average is $31.40 and its 200 day simple moving average is $37.05. The firm has a market capitalization of $512.67 million, a P/E ratio of -6.00 and a beta of 1.27.

Malibu Boats (NASDAQ:MBUU) last posted its quarterly earnings data on Thursday, January 30th. The company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.01). Malibu Boats had a positive return on equity of 1.04% and a negative net margin of 12.09%. As a group, sell-side analysts predict that Malibu Boats will post 1.69 EPS for the current year.

Hedge Funds Weigh In On Malibu Boats

Several institutional investors have recently added to or reduced their stakes in the company. Exchange Traded Concepts LLC grew its stake in Malibu Boats by 4.1% during the fourth quarter. Exchange Traded Concepts LLC now owns 7,977 shares of the company’s stock worth $300,000 after buying an additional 311 shares during the last quarter. Central Pacific Bank Trust Division grew its position in Malibu Boats by 11.3% during the 4th quarter. Central Pacific Bank Trust Division now owns 3,626 shares of the company’s stock worth $136,000 after acquiring an additional 368 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in Malibu Boats by 0.7% during the 4th quarter. Ameriprise Financial Inc. now owns 123,094 shares of the company’s stock valued at $4,627,000 after purchasing an additional 815 shares in the last quarter. Heck Capital Advisors LLC bought a new position in Malibu Boats in the 4th quarter valued at $38,000. Finally, Price T Rowe Associates Inc. MD raised its position in Malibu Boats by 10.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 12,111 shares of the company’s stock valued at $456,000 after purchasing an additional 1,103 shares during the last quarter. 91.35% of the stock is owned by institutional investors.

About Malibu Boats

Malibu Boats, Inc designs, engineers, manufactures, markets, and sells a range of recreational powerboats. It operates through three segments: Malibu, Saltwater Fishing, and Cobalt. The company provides performance sport boats, and sterndrive and outboard boats under the Malibu, Axis, Pursuit, Maverick, Cobia, Pathfinder, Hewes, and Cobalt brands.